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tv   MONEY With Melissa Francis  FOX Business  November 21, 2012 5:00pm-6:00pm EST

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$0.11, but i still can't believe thanksgiving dinner, $49. david: meet is expensive. have a great one. melissa: i am melissa francis and here's what is "money" tonight. injuring 30 people. an exclusive interview with the senior official at tel aviv to get all the details. a thanksgiving store causing major headaches for los angeles. workers walking out and blocking traffic on the busiest travel day of the year. we will hear from both sides on this one. remember the battle cry for lower taxes? where are they? we'lwe will ask one of the couns top tea party leaders. even when they say it is not, it
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is always about "money." all right, first let's take a look at the market headlines. modest gains in the last day of trading before the thanksgiving holiday. citigroup announced it will be closing half of all their branches in greece. the banking giant says a security measures are hurting their business. a federal bankruptcy judge has officially approved hostess brand plans to wind down. the ruling spells certain and to the hostess bakery. the twinkie will come back. ending the violence for now. even though it intensified when word of the troops was first announced.
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earlier today terrorist blew up a bus in tel aviv injuring 30 people. tensions boiling over. if the cease-fire does not hold and israel goes to war, the global impact will be felt here in the u.s. joining me now in a fox business exclusive is senior advisor to the mayor, thank you for being with us. i want to get right to it. a cease-fire is good news but what is your take on it? >> is quite interesting because since the cease-fire was signed, several rockets were launched after the cease-fire came into effect. things have been pretty quiet and we hope it continues this way. melissa: do you feel that they violated it already? >> i guess you could call it that. we are dealing with band of
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terrorists whose political ideologies to kill as many as thewecan. we have to take it with a grain of salt. we want the southern border to be peaceful and that is why we signed the cease-fire with them and we hope they stand up to the terms they agreed to. melissa: israel agreed to stop all hostilities and not target specific individuals. palestinians said they would stop against israel including rocket attacks and along the border. obviously this question about that, but does it seem fair to you? >> let's put it this way. our goal is to make sure our citizens live peacefully and calmly. he is dealing with a group of terrorists.
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it would have gotten things much more complicated, so if they don't fire at us, we won't fire back. we want to live and hopefully we want to live as well. melissa: some analysts suspect lived the way it was brokered that israel was the one providing missiles to hamas to get them to stop doing that ultimately the u.s. will have to give them more aid. is that your impression of what is going to go on, and how do you feel about that? >> we have a new player in the region, with him and the new regime currently in place in egypt. these deals always have an interest on both sides, and i truly hope the palestinians and
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hamas leadership realizes better for them to take care of their own people, start building schools and welfare institutions as opposed to putting israel in as the primaryygoal. melissa: due to their ultimate goal is to get money out of the u.s.? does it really come down to money at the end of the day? >> translating military and financial aid and other forms, that is the case of egypt and other countries. while we have not seen the full details of this agreement, i imagine the americans made it clear it is in their best interest for the administration to keep the border quiet. melissa: they say it feels the neighborhood around you has turned even more guilty than ever before with the statements coming out of turkey.
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do you feel more alone than ever? >> definitely i think we all know around the world started off as an arab spring turned out to be an autumn and it is very gloomy right now. hoping that they would change the way the middle east would do better is not happening in a lot of regimes turn into an islamic radical group forming chaos altogether like with hamas. israel is dependent upon its friends and vista support in the united states and in europe. we have a strong military to ane keep on with our democratic system and we hope our neighbors can one day choose democracy as well even though it is clear we are optimistic. melissa: from where you stand you have a better view of things
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than we do, how long do you think the cease-fire will hold, what do you really think? >> really hope it holds on long. it has been going on for more than 10 years. it has not always been focused on this. as they reach a wider range. our moms and dads and kids, that was their blame, on the other side of the border the regime rose to power, the new platform is to kill as many moms and dads as possible. we will do everything we can to defend our citizens and if we have to broker a deal allowing us some kind of certainty for some kind of a calm, the israeli
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government did the right thing. we can all say with certainty a deal that will last 100 years. melissa: thank you for coming on tonight. turning to the u.s., we're focused on thanksgiving. a good time to be grateful and to give thanks that as many are hitting the road to head to grandma's house, gas prices expected to be historic highs. fortunately for all of you mon "money" fans, and the best way to get around the travel mess. joining us now, senior petroleum analyst. thank you so much for joining us. what are the secrets? you have to tell me if they are true, it seems gas prices always go up on thursday night before friday. is that true? >> no, it is not.
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they think the price always goes up in advance of the holiday weekend. that is a myth as well. they're either flat or they declined. we saw the same thing with labor day. it can often decline, so it really depends. melissa: in this case this year it might be better to wait. if prices are falling, maybe you want to wait until deeper into the weekend, what is your advice? >> prices are only following in a few areas. we are seeing wholesale price increases, the national average is about $0.08 per gallon more than a year ago, but in some parts of the country is significantly higher. look at the highest prices in the country, $3.98. $0.30 more than they were paying last year. in dallas $0.02 per gallon less.
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sale prices above $0.36 per gallon less than what they paid a year ago. it is a broad mix. melissa: what is the way to find the best price in my neighborhood? you want to find the guy off the beaten path, what is your general advice? >> it may sound self-serving but we recommend gasbuddy.com because it can find the lower-priced gas station anywhere in the country. there are all kinds of different beliefs, if you're on the new jersey turnpike were a captive audience rea. it all depends. melissa: i have to say i have used gas buddy, but it's very cool. i was shocked this morning even though i follow this very
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closely, i'm surprised we are paying the most we've ever paid this thanksgiving. where do you think gas prices are going in the near future? >> we certainly saw a lot of volatility following hurricane sandy even before gasoline prices have been volatile pretty much all year long. going forward we are glad to see the peace in the middle east. we still think there is room for prices to come down between now and christmas. we are cautiously optimistic. once we get into the new year we have to expect the prices to go up because of the regulations requiring summer blend gasoline. melissa: thank you for coming on. now i'm going to go straight home and see my kids instead. thank you. time now for today's fuel gauge report.
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a modest comeback after dropping slightly on news of a cease-fire in israel. natural gas prices rising to the highest level in years. after the reports of a $38 billion cubic foot drop in u.s. stock prices. closing with a $3.91, getting close to $4 again. the reports the u.n. climate panel says not enough is being done review greenhouse gas emissions. the effort being made to fight climate change is fall short of their goal of limiting global warming 2 degrees celsius. next on "money," union protest causing major problems for thanksgiving travelers for the biggest airports in the country. wait until you hear this one. could this have an impact on the economy? that nobody thought of.
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we will break it all down for you, more "money" coming up. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the merces-nz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer.
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melissa: the service employees union is trying to disrupt one of the busiest travel days of the year at lax headquarters in l.a. or the 1000 protesters are out blocking traffic trying to prevent travelers from getting to the airport. people were told to allow an extra hour and a half to get there. an extra hour and half on top of all the hours were supposed to get there ahead of time. with me now for both sides of the debate. gentlemen, welcome to the debate. i will start with you because as we watched all the video today of protesters out there trying to wreck the day of travel, people got frustrated, what would you say to defend them? >> good to be with you, excuse my preholiday garbage here.
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what i say is i think we have to celebrate the goals and tactics. the goals are fairly reasonable, these are hard-working people not asking for more, they're simply trying to defend their standard of living in a particular trying to prevent their employer from taking away all their healt health care bens next month. i think their goals are reasonable. their tactics can be debated. this is the union and aggressive, in-your-face union that bothers a lot of people. at the same time, one of the fastest growing unions in the country, so that is working for them. melissa: the issue here, they're fighting to not have health or taken away. obamacare is on its way, why are they worried about their health care? >> i don't think that is it at all.
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the union has to reinvent himself in to be relevant. is this what they want to do what millions of americans are trying to get to their loved ones, this is the image they want to have? i had somebody on my radio show recently, he had to deal with them, campaign to unites his workspace and said intimidation, harassment, vandalism, he was scared for his family. the tactics they are using is not just aggressive, but controversial. the blackmailing i heard about, what you're seeing, the workers that are supposed to be getting out of the streets to demonstrate don't want to demonstrate, they have forced people to stand in the street. melissa: one thing i always think of when i hear the story about the folks at wal-mart and the conditions is that nobody is
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forcing anybody to have these jobs, and there are millions of people on the eve of thanksgiving who are unemployed and would love to have their jobs. if the jobs are so terrible and treated so poorly, nobody is forcing them to do them. >> with all due respect, don't think it's much of an argument to say that basically gives an open door to employers to do whatever they want, decimate workers terms of women's and c. can have another job if you would like. melissa: if an employer is really bad, then don't work for them and nobody will want to work for them if they're a horrible employer and abusing employees like that. >> outlays go back to what my fellow debater here said, talking about unions blackmailing and so on. the nlrb found more than 32,000 workers per year were fired in
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properly in this country every year for simply trying to exercise their right to form a union, so it cuts both ways. >> the tactics they are using, we talked about wal-mart. 1.3 million employees and the unions have been trying to get them forever and yet they still won't unionize. public employers are taking care of their people, getting better wages. the folks at lax said they paid a lot of money and got nothing. getting better health care than the union was providing for them. how do you explain that? melissa: you raise a valid point, maybe their tactics are what needs to change, we look at what is happening with wal-mart trying to stop people, but customers just kind of go around them because they still want the door buster deals. looking at the huge crowds and what they're doing to stop
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passengers and it is unclear these tactics are putting forward the face and the sympathy we need. and you saw what happened at hostess and as a result nobody has a job. it blew up to the point not only did they not represent the interests because every single person ended up unemployed. do you think they need to have a fundamental change in their tactics to survive and thrive the way you believe we should? >> if it were really the case that unions serve no purpose. melissa: did they have to recalibrate their tactics to be more effective going forward? >> it is no accident there is a multi-or you notice avoidance in this country that teaches employees how to strip the union. but to your point, completely agree that only tactics, but
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unions have to do a much better job of communicating to the public why they still matter, why it is in the national interest. there are very good commonsense arguments ttat can be made, for example historically when there is a strong labor movement with expanding middle communicating that, so therefore when people see something like lax, the don'ts in the context and they're bothered but being disruptive, and that is understandable. melissa: thank you for coming on, have a wonderful holiday. what are you most thankful for this thanksgiving? one of the things i am most thankful for, my new book and so far the reviews have been awesome. look at that. what a huge relief. we want to hear what you think. follow me on twitter.
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coming up on "money," give a bonus coming to you, you may want to ask for it right now, quick. they could have a negative impact on the economy in 2013. we have not heard much from the tea party. we have a top tea party activist to explain what they're doing to save us from the tax debt. can you ever have too much money? so think you have too many taxes. @
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melissa: you may be hearing more
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rumbling. companies paying out year-end dividends before the year-end. people clamoring to get their bonuses paid in december 3 of january before taxes and the ink skyrockets. here's the thing, what is good for you could be really bad for the economy. here to explain, peter, thank you so much for coming back, happy thanksgiving. thiso this is my thought, everyy is racing in to try and realize whatever income they possibly can and it is humorous, people like wal-mart quickly paying out dividends, people in new york asking for bonuses easy to manipulate if you get paid in december or january. i feel it will be a big boost to gdp in the fourth quarter, all this money is flowing and the big drop-off next year. what do you think? >> to be somewhat of a boost, and they lost in the first quarter.
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more troubling to me are the other things businesses are starting to do because of the fear of the fiscal cliff and higher taxes. in some cases they are laying off, those are troublesome things. even if they resolve the fiscal cliff, higher taxes will mean less spending in the economy and less reasons to invest and hire more people. melissa: i don't even think resolving the fiscal cliff would make that much of a difference because businesses still face uncertainty scare them of making decisions. first it was about obamacare, and they were so upset and didn't want to spend any money. and then the election, they still didn't want to do anything. resolving the fiscal cliff will not make them feel any better because the resolution will be higher taxes. >> absolutely. and that is where businesses throw out, chamber of commerce, is ask why they are not doing
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something, it is uncertainty. they ar paid to manage in uncertainty. there's just a lot of nonsense. the economy is not moving along very well. the discussions will not resolve the fundamental problem from exploding entitlements and mammoth increase in spending imposed on america and now want americans to validate, that is why they are not investing. melissa: it is so true. a timed everybody blamed the weather. unseasonably cold or hot. this all makes me pretty depressed and makes me feel like the economy will not get better anytime soon. >> by reelecting barack obama, he will not create jobs for them. we have seen for years worth of his tricks, and what have you dy talk about doing besides raising taxes. more jobs creation programs.
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it seems like stimulus. why would $1 trillion of stimulus not work? it does not make any sense to me. melissa: america will not roll over and play dead. the election is over, small business is not going to just hang it up, roll on the sidewalk and call it a day. we have to find a way to be resilient. what we find a way to work it out anyway? >> we will in time but businesses are being conservative of how much they spend and people who loan money to businesses have to be conservative as well. when you consider what obama did in the bankruptcy where he basically subverted the lender's rights and give the money to the union, lifelike but american republic. recently advised the ceo
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developing countries are where the growth are, a lot of risk. mr. obama in the white house, a lot of risk. businesses have to proceed cautiously which means there won't be a lot of job creation. melissa: thank you for coming on. >> happy thanksgiving. although fighting higher taxes, right? so why haven't we heard more from them as we're about to be taxed to death. a top tea party activist when we come up. and one jewelry dealer has come up with a very interesting thanksgiving promotion. who will fill you in on all the details. piles of money coming up. i always wait until the last minute. can i still ship a gift in time r christmas?
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melissa: so the fiscal cliff is four days away. what are we to overcome a good deal to avoid it seems taxes are going up. i thought the tea party would save us. wasn't that their rally cry in the first place? to him i is and co-author of the book. why deprive of our public depends on our honor. are you guys going to stop this somehow? >> i think it is something the tea party has put massive amounts of energy into it if you think about it, the democrats fight the republicans, republicans fight the democrats, the tea party has to fight on both fronts. it requires extra amount of strategy and foresight and vision remembering the tea party
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is really only four years old but has regrouped. the tea party is very committed to getting involved in infiltrating the g.o.p. on the local level, that is all still happening very actively. melissa: it sounds like i'm about to be taxed to death. i could go to bermuda, but that is about it. other than that, it is going to happen. >> some things will happen, but i do think the tea party people who have been elected and have some degree of leverage in this whole situation need to do what they're best at doing, turn the arguments of the left back onto the left. the reality is no amount of taxation of any is going to save us from this incredible deficit. melissa: i hear you and i agree
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with you, but that message, feels like by virtue of the last election the rest of the country is not agreeing with that. >> i think time will prove this is right. the president has to look at legacy, he is the worst president in all of american history if the economy continues on a crash course as it is right now. the real opportunity is just presenting itself for folks in the tea party where we can say cutting spending is the only answer. if you tax everybody that obama is talking about taxing, the most you could cut off the deficit is 5%, something insanely small. that will not do anything. the message has to be to cut spending and until that resonates with americans, have to realize the economy will keep declining. melissa: ho huggies is a spendig
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problem, not a revenue problem? >> the left is always going to try to appeal to the low information voter. so we have to take information, make it really simple, on complicated and communicated in a narrative that can be marketed to the masses of people. if you take the tax increases of those making over $250,000 per year, it is a drop in the bucket. 56 b of money we're talking about reducing the deficit to something like 1.15 trillion bit of 1.2 trillion. we have to communicate that we have to keep sticking it to them to say that debt is on our children and future and some point the grim reaper will take it back so we have some point when people are hurting bad
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enough realizing obama has not come in and saved us yet, maybe then they will start listening. >> thank you. melissa: now the jewelry dealer is giving away everybody who buys his bling. at the end of the day it is all about money. [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra f you take nitrates for chespain; it may cause an unsafe drop in blood pressure.
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melissa: don't be a chicken, get a turkey from a small-business owner who brought you the free gun with an engagement purchase, inattentive just-in-time for thanksgiving. here to explain, thank you for coming back to the show. what a great idea giving away a turkey if you buy an engagement
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ring. what gave you this idea? >> we always like to do something in the community. we thought it was something new. we thought okay, free turkey. melissa: the shotgun thing was highly popular and sold a lot of rings. i am wondering if it has been as successful. you can go to the grocery store and spend a certain amount of money. is this the hit you were expecting? >> it is. it is not the same as the shotgun because we saw probably most people, the nice thing is it is really bringing out the thanksgiving spirit because we had a lot of customers who came to our store and actually wanted me to give the turkey to somebody else less fortunate.
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it is really good we were able to say thanks to other people by giving turkey away. that is the cool part. melissa: would you say you doubled sales, or how successful has this been? >> more than that. we had about 12 times more work to our workshop, this is probably like triple. still, the economy is not doing a whole lot. we do these things with local businesses, like the local dealer, the turkey all smoked in iowa. melissa: let me ask you about
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upcoming promos. new year's can do like a live grenade with the ring. cannot wait for valentine's day. what are your ideas going forward? >> we start our wedding events in december, we are giving away free use of the millions, so that is something we are going to do. i am originally from the netherlands. the goodies that debate for those times. we will take some stuff for our visitors in the spring when the weather is a little bit nicer because it can be awfully cold. plenty of things to do.
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if you are able to do something for the community with the community because it is the most important thing. it is pretty undervalued throughout the u.s. melissa: we totally hear you, but we love off the wall of the shotgun. good luck to you, happy thanksgiving. coming up, my favorite part of the show, a special pre-thanksgiving themed spare change. you can never have too much spare change or too much turkey.  4g lte is the fastest.
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♪ melissa: a little mellow. we need something jazzier. time for spare change. thanks. attorney jerry jackson in democratic strategist. thanks to both of you. our holiday edition. first up, do you know how much you're spending on thanksgiving dinner? according to the american song bureau federation this year the average cost of a ten serving thanksgiving meal is $50. i do not know how this is possible. $50 for ten people, and it's up just slightly from last year which they say was $49.20.
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i want to know where these people are shopping? obviously i am shopping at the wrong store. >> ten servings? how big is serving? have you ever in your life but ten servings the estimate it once? >> i have to say this. first of all, first of all, we are talking about my favorite topic, food. number two among going to blow up your spot right now. you had a baby five months. how they look like that? >> only eight servings a day. >> you have the full authority. >> apparently i am. >> ten servings at her house might really cost $50. her servings. >> ten surveys. >> seriously. i could not believe it. peas in turkey. you made a buy.
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sweet potatoes in this and that. they somehow checked out of the store and only spend $50. i think this is insane. there is no way to do that. >> fifty volunteers to go around the country in different places. i think it's a wonderful thing, but the great thing about thanksgiving and all this other stuff, even if you don't have the 50 bucks, there is always someone, whenever soup kitchen or whatever other place to serve the public and to ensure that our bellies are full and that -- melissa: on melissa cells. >> coming over to my house tomorrow. melissa: >> i get said he'd like to or three times. [talking over each other] melissa: i can't get over ten surveys. melissa: i know. another calories statistic, but at the council. the average number of calories be on thanksgiving day, wait for it, 4500.
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that includes everything. at that it was just a meal, but it includes everything. breakfast, wind and snacks. that is more than double what he suggested -- suggested intake should be. just the diller -- dinner alone is 20500 calories. i would explode. >> how much wine? bottles of wine. those huge boxes. the six right to the alcohol. i love that about you. >> what else are you going to do that thanksgiving. >> i was at the gym this morning. as spend an extra 20 minutes. i'm going to go tomorrow. we will be there for an extra, i don't know. >> if you're going to have that much calories and everything else into your body, which we deserve because is it time to be thankful and to celebrate. you have to make sure you take care of yourself.
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melissa: that $50 meal is not 4500 calories. totally different places. all right. next, when it comes to holiday travel, it can be a pain with the high cost and the traffic. now add on to that a rent-a-car shortage. superstar and sandy destroyed dozens of cars leading to a lack of rentals. demand is up, supply is low, and one day rental was going for $350. this is not a spare change story. this is too depressing. >> did on this side of the road. >> the only problem i found. there were many. in times of need, the entrepreneurial world and supply and demand and people can make money, but how about your fellow person. that is not the time to take advantage of them. >> these guys need to make their profit. [talking over each other] melissa: if they're renting five
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cars they have to it -- [talking over each other] >> hit other cars from other areas around the country that were not affected so that you conserve your public in a way that they deserve to make a reasonable cost. >> i love it. melissa: most important question. what are you most thankful for? what is your favorite thanksgiving dish? >> number one, i am thankful to be alive. i am thankful to be here. i am thankful for my wonderful family. my wife talks to me. my son occasionally talks to me. melissa: favorite dish. >> candied yams, machen seize command that has to be with question of fried turkey. melissa: yes. >> a bottle of wine. come on. admitting the best

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